Discounted Cash Flow (DCF) Analysis Levered
Sysco Corporation (SYY)
$84.48
+1.64 (+1.98%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 55,371.14 | 58,727.32 | 60,113.92 | 52,893.31 | 51,297.84 | 50,450.71 | 49,617.57 | 48,798.18 | 47,992.33 | 47,199.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2,176.43 | 2,158.63 | 2,411.21 | 1,618.68 | 1,903.84 | 1,855.47 | 1,824.83 | 1,794.70 | 1,765.06 | 1,735.91 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -686.38 | -687.82 | -692.39 | -720.42 | -470.68 | -589.48 | -579.75 | -570.17 | -560.76 | -551.50 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,490.05 | 1,470.82 | 1,718.82 | 898.26 | 1,433.17 | 1,265.99 | 1,245.09 | 1,224.52 | 1,204.30 | 1,184.41 |
Weighted Average Cost Of Capital
| Share price | $ 84.48 |
|---|---|
| Beta | 1.133 |
| Diluted Shares Outstanding | 513.56 |
| Cost of Debt | |
| Tax Rate | 10.35 |
| After-tax Cost of Debt | 6.68% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.093 |
| Total Debt | 11,820.25 |
| Total Equity | 43,385.13 |
| Total Capital | 55,205.38 |
| Debt Weighting | 21.41 |
| Equity Weighting | 78.59 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 55,371.14 | 58,727.32 | 60,113.92 | 52,893.31 | 51,297.84 | 50,450.71 | 49,617.57 | 48,798.18 | 47,992.33 | 47,199.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2,176.43 | 2,158.63 | 2,411.21 | 1,618.68 | 1,903.84 | 1,855.47 | 1,824.83 | 1,794.70 | 1,765.06 | 1,735.91 |
| Capital Expenditure | -686.38 | -687.82 | -692.39 | -720.42 | -470.68 | -589.48 | -579.75 | -570.17 | -560.76 | -551.50 |
| Free Cash Flow | 1,490.05 | 1,470.82 | 1,718.82 | 898.26 | 1,433.17 | 1,265.99 | 1,245.09 | 1,224.52 | 1,204.30 | 1,184.41 |
| WACC | ||||||||||
| PV LFCF | 1,174.50 | 1,071.62 | 977.76 | 892.12 | 813.98 | |||||
| SUM PV LFCF | 4,929.97 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.79 |
| Free cash flow (t + 1) | 1,208.10 |
| Terminal Value | 20,865.34 |
| Present Value of Terminal Value | 14,339.47 |
Intrinsic Value
| Enterprise Value | 19,269.44 |
|---|---|
| Net Debt | 8,813.12 |
| Equity Value | 10,456.32 |
| Shares Outstanding | 513.56 |
| Equity Value Per Share | 20.36 |